United Natural Foods forecast falls short

AndriaCheng

NEW YORK (MarketWatch) -- Organic and specialty foods distributor United Natural Foods
UNFI, -0.38%
shares fell 1.6% in after-hours trading on Tuesday after the company's updated full-year profit forecast fell short of Wall Street expectations. The company now projected this year's profit to between $2.47 and $2.50 a share. In March, it projected profit of $2.45 to $2.51 a share. United Natural Foods was expected to earn $2.51 for the year, according to FactSet. Its fiscal third-quarter profit rose to $39.4 million, or 73 cents a share, from $31.6 million, or 64 cents, a year earlier. That matched the consensus estimate. Sales in the quarter ended May 3 rose to $1.78 billion from $1.57 billion a year ago.

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